The Central Bank said the currency swap deal with India has boosted Sri Lanka’s gross official reserves to 7.4 billion dollars.

The reserves are estimated to have been increased to 7.4 billion US dollars by April 30th, 2015 mainly with the proceeds of 400 million dollars from the currency swap agreement between Sri Lanka and India.

The Central Bank observes that reserves are increasing since beginning of April 2015, reversing the declining trend experienced during the first quarter of the year.